Wood Group acquires stake in renewable specialist SgurrEnergy

International energy services company Wood Group has acquired a significant equity stake in leading renewable energy services consultancy SgurrEnergy Ltd. (“SgurrEnergy”).

SgurrEnergy provides a range of consultancy, engineering and measurement services to the developers and funders of wind farms and other renewable energy projects. The company employs around 100 people mainly based in its Glasgow office and also in Canada, China, India, Ireland and France and the USA. SgurrEnergy will join the Wood Group Kenny business unit, and will work closely on a number of projects with J P Kenny’s Offshore Renewables group, whose offshore renewable projects include the design and project management of an innovative Wave Hub project for the South West Regional Development Agency (SWRDA) in Cornwall.

“I am very pleased that SgurrEnergy is joining Wood Group as part of our ongoing strategy to expand and enhance our renewable energy capability, delivering proven design and management services to customers’ wind, wave, tidal and solar projects,” said Steve Wayman, CEO, Wood Group Kenny . “The combination of Wood Group Kenny’s extensive offshore project experience, together with SgurrEnergy’s specific renewable energy expertise and proprietary technology, will create a leading player in the renewable energy services sector.”

“We are delighted to be joining forces with Wood Group,” said Ian Irvine, director of SgurrEnergy. “This transaction brings together a strong set of complementary skills for our customers, covering the full project lifecycle, and presents exciting development opportunities for the business and our people. We aim to leverage Wood Group’s global footprint and, with their strength and backing, will be able to accelerate our plans for expansion of our services and products.”

Note to editors:

Wood Group is an international energy services company with approximately $5.0bn sales, employing approximately 29,000 people worldwide and operating in 50 countries. The Group has three businesses – Engineering & Production Facilities, Well Support, and Gas Turbine Services – providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide.

Wood Group Kenny is the world’s largest specialist subsea, pipeline and riser engineering and management contractor employing more than 1,600 at fourteen locations worldwide. Wood Group Kenny comprises four companies –

* J P Kenny – one of the world’s leading independent subsea and pipeline organisations, operating worldwide and providing its clients with solutions that range from the planning stage through to procurement, fabrication, construction management, commissioning and operations support services.

* MCS Kenny – a world leader in compliant riser design to floating production and floating drilling facilities, with an extensive track record across all riser system types and water depths. The company also provides advanced structural analysis and technology development capabilities to complement and support the design and project management capabilities of its sister company J P Kenny.

* MSi Kenny – an independent provider of services and products specialising in flow assurance and process optimisation. The company is recognised as a world leader in its area of expertise and is supported by a strong capability in transient multiphase flow simulation and production thermodynamics.

* WGIM – an independent engineering & management company, specialising in all-of-asset integrity assurance with extensive materials engineering resources, service life prediction and inspection management expertise in the oil & gas petrochemicals, power, mining & mineral processing industries.

SgurrEnergy is a leading engineering consultancy specialising in worldwide renewable energy projects. It has the capability to deliver at every phase of a project, from the early stages of site selection, feasibility and design right through to project management of the construction phase and operation and maintenance.


Source: woodgroup, September 24, 2010